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The Company was incorporated originally as Premier Synthetics and Processors Ltd. (PSPL) in the State of Maharashtra on 9th October, 1970 by the original promoter Shri. B.K. Jhunjhunwala for setting up a cloth processing unit at Village Pawne (Maharashtra) with IFCI assistance.

The company is having complete spinning plant for manufacturing of corse count cotton yarn. The end use of such cotton yarn is in denim industries and towel industries. the main raw materials for manufacturing such yarn is cotton and cotton waste.